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on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at all about extending the bush tax cuts. what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. now, you can argue that during the campaign i said -- i set the criteria for wealthy at 250 and we ended up being at 400, but the fact of the matter is, millionaires, billionaires are paying significantly more in taxes, just as i said. so from the start, my concern was making sure that we had a tax code that was fair and that protected the middle class, and my biggest priority was making sure the middle class
on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at...
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i just want to come back to the debt ceiling. you said you wouldn't in this on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy, and you did. as you say now that you're not going to negotiates on the debt ceiling this year, why should house republicans take that seriously and say if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, let's take the example of this year and the fiscal cliff. i didn't say that i would not have any conversations at all about extending the bush tax cuts. i just said we wouldn't extend them for the wealthy. we didn't. you can argue that during the campaign i said -- i set the criteria for wealthy at $250,000, and we ended up being at $400,000, but the fact of the matter is millionaires and billionairres are paying significantly more in taxes just as i said. so for, you know, from the start, my concern was making sure that we had a tax code that was fair and it protected the
i just want to come back to the debt ceiling. you said you wouldn't in this on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy, and you did. as you say now that you're not going to negotiates on the debt ceiling this year, why should house republicans take that seriously and say if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, let's take the example of...
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Jan 14, 2013
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficit, america can't afford another debate with this congress whether or not they should pay the bills they already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. we might not be able to pay our troops and honor our contracts with small business owners. food inspectors, air traffic controllers, wouldn't get their paychecks. invest ors around the world will ask if america is a safe bet? markets could go haywire, interest rates would spike. every student can a college loan, every small business owner who wants to hire, it would be a self-inflicted wound on the economy. it would slow down our growth, might tip us into a recession. and ironically would p
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficit, america can't afford another debate with this congress whether or not they should pay the bills they already racked up. if congressional republicans refuse to pay america's bills on...
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Jan 14, 2013
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. >> goodbye fiscal cliff hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have to make a skylight in it. sounds nice. it's pretty but they rarely get caulked properly and when it rains, it drips and ruins your sisal carpet. the republicans are clearly in a strong position but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and a congressman are suggest a $1 trillion platinum coin could be minted and the government could use it to pay the debt, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan.
. >> goodbye fiscal cliff hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have...
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Jan 19, 2013
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president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is rung short. >> republicans made their choice during a gop retreat in williamsburg, virginia. house majority leader eric cantore reportedly has plans for three months. in a statement the white house responding, saying, we are encouraged. there are signs congressional republicans may back off their insistence on holding our economy hostage to extract drastic cuts in medicare, education and programs middle class families depend on. the temporary nature of the increase is somewhat troubling. a white house official told nbc news it's a terrible way to run the country. but the aide gave no indication president obama would veto a temporary extension if this is how congressional republicans want to govern, so be it. they already have an approval rat
president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is rung short. >> republicans made their choice during a gop retreat in williamsburg, virginia. house majority leader eric cantore reportedly has plans for three...
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president obama yet on his news conference said raising the debt ceiling will not raise our debt ceiling. all we've raised the debt, we have to may more interest. that in it/will increase the spending. we have a spending problem in this country. that's what we need to address. >> what is your biggest bone of content with john boehner? you've been very public about the fact that you don't think his leadership is something you wanted over this new congress, you didn't vote for him to be the speaker. what is your main problem with him? >> i have no personal problems. i keep hearing that. he himself said i carrying no grudges. we've talked several times. the point is to let him know with le stand up to leadership and hold him account annual. i think that's important to know. that really is on both sides of the aisle. if you go back there were people that challenged the leadership, too. i think that's a good thing. you have new members of congress willing to stand up and saying let's rethink this. let's put america first, not necessarily party politics. i fired the first volley that you would
president obama yet on his news conference said raising the debt ceiling will not raise our debt ceiling. all we've raised the debt, we have to may more interest. that in it/will increase the spending. we have a spending problem in this country. that's what we need to address. >> what is your biggest bone of content with john boehner? you've been very public about the fact that you don't think his leadership is something you wanted over this new congress, you didn't vote for him to be the...
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he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic standoff between republicans and democr
he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and...
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chris: they win. >> they're afraid of a debt ceiling confrontation or actually defaulting on the debt. they don't want to be blamed for that. >> the tea party people are not here to legislate. they're here to de'mon strailt. -- to demonstrate. they didn't get to do it on the fiscal cliff in the end. they want to do it to something and go over the edge. and this will take them over the edge and they will lose politically and the president is going to have to scramble to shut things down. and credit ratings will be affected. chris: when is the public going to make a verdict on whether they like that kind of behavior? >> they sort of did in the last election. chris: and 12 of our regulars including you, howard, can president obama split off enough republicans to win the big fights copping up on debt and the budget -- coming up on debt and the budget and guns? eight say yes. four say no. howard, you voted with the majority nt at least on the debt and budget issues and you're wary on the gun thing. >> yeah. and for the reasons that john was saying. because a lot of democrats who will be ru
chris: they win. >> they're afraid of a debt ceiling confrontation or actually defaulting on the debt. they don't want to be blamed for that. >> the tea party people are not here to legislate. they're here to de'mon strailt. -- to demonstrate. they didn't get to do it on the fiscal cliff in the end. they want to do it to something and go over the edge. and this will take them over the edge and they will lose politically and the president is going to have to scramble to shut things...
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Jan 19, 2013
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you have to get every dollar for debt ceiling increases. they say the debt ceiling, they know it doesn't give them real leverage but gives them an opportunity to give real messaging. they wouldn't provide a show-down where they say not raising it. they come to terms with having lost the election. charles krauthammer wrote today, the general rule is from the single house of congress, you can't impose, aren't you failing the country? the country chose obama, if you want to save the republic, save the next election. if your conservative philosophy is indeed right, winning will come. joining me now, robert costa, and dave weigel, both of them doing great reporting, i appreciate you being here. robert, i want to start with you, tell me the thinking behind the three-month extension, why three months? >> a lot of it has to do public relations, i think what i heard from the retreat, and members in the room, they want to start to win the pr battle again, to do it they have to take the debt limit off the table, and fight with spending in regard to th
you have to get every dollar for debt ceiling increases. they say the debt ceiling, they know it doesn't give them real leverage but gives them an opportunity to give real messaging. they wouldn't provide a show-down where they say not raising it. they come to terms with having lost the election. charles krauthammer wrote today, the general rule is from the single house of congress, you can't impose, aren't you failing the country? the country chose obama, if you want to save the republic, save...
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raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. and the consequences of us not paying our bills, as i outlined in my opening statement, would be disastrous. so i understand the impulse to try to get around this in a simple way. but there's one way to get around this. there's one way to deal with it, and that is for congress to authorize me to pay for those items of spending that they have already authorized. and, you know, the notion that republicans in the house or maybe some republicans in the senate would suggest that in order for us to get our way on our spending priorityies, that e would risk the full faith and credit of the united states, that, i think, is not what the founders intended. that's not how, i think, most americans think our democracy should work. they've got a point of view. democrats in congress have a point of view. they need to sit down and work out a compromise. [ inaudible ] yeah. >> and you're not negotiating on the debt c
raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. and the consequences of us not paying our bills, as i outlined in my opening statement, would be disastrous. so i understand the impulse to try to get around this in a simple way. but there's one way to get around this. there's one way to deal with it, and that is for congress to authorize me to pay for those items of spending that they have already...
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regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker and his aides are telling us that they really mean it this time. that there has to be a dollar of spending cuts for every dollar that the u.s. agrees to raise the debt limit. and that they would even go for a two or three-month extension as they try to work on a more global discussion of cutting spending. but even if there's an extension, it has to go point by point. the other thing i want to mention, suzanne, which i thought was really interesting, after covering the white house under george bush, that last question about the fac
regarding the debt ceiling. is that something that republicans are willing to do here, or it must be linked? the two have to go hand in hand? >> reporter: they are insisting, and when i say they, i'm talking about house republicans and the senate republican leader, but they have to go hand in hand. this is something that we heard over and over and over again when we had this debate the last time, back in the summer of 2011. andion that ve ioion you know t suzanne. but the house speaker...
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the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any conversations about extending the bush tax cuts, what i said we wouldn't extend bush tax cuts for wealthy and we didn't. we can argue during the campaign that i said, i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is that millionaires, billionaires, are paying significantly more in taxes, just as i said. so from, you know, from the start my concern was making sure that we had a tax code that was fair and that protected the middle class and my biggest priority was making sure middle class tax
the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any...
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money congress has already borrowed. president obama explained to the american people today how republicans in congress are trying to avoid doing their actual jobs. >> these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> if the american people do not catch on to the severity of all of this, of defaulting on our debts, the cou
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money...
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negotiate on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so as you say now that you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one-minute to midnight scenario that you're not going to back down? >> well, first of all, julianna, let's take the example of this year in the fiscal cliff. i didn't say i wouldn't have any conversations about extending the tax cuts. what i said was we wouldn't extend bush tax cuts for the wealthy and we didn't. you could argue during the campaign i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is, millionaires, billionaires, are paying significa ining signific taxes just like i said. from the start my concern was making sure that we had a tax code that was fair and that protected the middle class. and my biggest priority was making sure that middle class taxes did not go up. t
negotiate on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so as you say now that you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one-minute to midnight scenario that you're not going to back down? >> well, first of all, julianna, let's take the example of this year in the fiscal cliff. i didn't say i wouldn't...
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debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his name. let's tell you what drove the markets. mixed day on wall street with s&p and dow closing in the green. all three major indices ending the week higher. industrials and energy were today's top performing sectors while technology was the only sector ending the day lower. and oil ending the week in the green after the international energy agency raised its global oil demand forecast for the whole year. crude's settling the week up 2.1% at $95.56 a barrel and consumer confidence falling for the second month in a row, droppin
debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his...
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ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to spend to congress. the result is the money congress has already borrowed. president obama explained to the american people in congress how they're trying to do their actual jobs. >> these are bills that are racked up. and we need to pay them. so while i'm willing to find compromise on how to pay our debts, americans should not be stopped from paying the bills we racked up. >> the country will be in a dire situation. president obama knows t
ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or...
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senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to uphold the constitution and leave this country better than how we found we can't keep spending our kids inheritance, can't keep spending their money, we don't have it. >> greta: apparently he has threatened, i think his statement, at least people-- that in the event, congress doesn't authorize to raise that debt ceiling that he will do it unilaterally himself and he thinks he has the authority. do you >> absolutely not. under the 14th amendment of the constitution you can only do this as authorized by law and law is only created through the united states congress. so the president has absolutely no ground
senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to...
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the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really might happen? neither side is ready to blink yet. he has laid out they are ready to compromise if possible that could lead to a government shut down although probably not right away. president obama suggested right before the u.s. the people at home might be told they have to wait for their money. >> if congressional republicans refuse to pay america's bills on time social security
the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >>...
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one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the shutdown and the continuing resolution in this totally screwed up washington that we have right now with all these perverse incentives, that actually does represent progress if republicans are now only talking about a government shutdown and not a debt default. >> do you agree with that? >> i mean, not really. i know what you're saying but i don't really think we should give a lot of rewards. we citizens, we the political class, or we the media for different strains of this kind of leverage. i think the problem and it was in a
one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the...
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he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of fantastical sounding option of minting a trillion dollar platinum coin. so they've closed yet another door, and he's essentially said, you know, i'm just not playing ball. i read that politico story today as very interesting. it could be john boehner's camp saying we can't control the far right wing. it could also be a little bit of a bluff. it may be that boehner really feels that way or maybe he wants the white house the think he feels that way and it could be, again, part of this grand game of chicken. everyone is positioning right now. that's what's
he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of...
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what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount of leverage and interconnected with everything else and sort of see what happened in 2008. it's also this issue of, you know, who gets paid? if you start to have to say maybe soldiers get paid but not paying for the fuel or these doctors will get paid, you know, government is a huge force in our economy. like it or not. and the number of companies that would really be affected from walmart to every defense contractor to giant health care companies, if their ability to collect money that is owed to them is then put in doubt, that triggers a whole, you know, range of activities of ot
what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount...
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we have raised the debt ceiling 70-plus times. there has always been that sense of we're not going to vote to raise the other guy's debt ceiling, but there was always the understanding that we would provide the votes in the final analysis. the president's party did that. right now, what you have is a situation where the republican party is reduced to its lowest andi in the history of "the wall street journal" poll. the only thing that is worse is john boehner. 18% favorable. this is not a formidable partner. >> over the weekend, "politico" spoke to many advisers and said house republicans and party leaders appear willing to shut down government. might need to do that four- member management purposes so that they can have an end game and show their constituents they are fighting. get it out of the system? this is not a gastrointestinal problem, this is the government. >> i would suggest therapy and do not shed down the government. i would give it to them for free. the republicans have had a pretty unhappy experience with brinksmans
we have raised the debt ceiling 70-plus times. there has always been that sense of we're not going to vote to raise the other guy's debt ceiling, but there was always the understanding that we would provide the votes in the final analysis. the president's party did that. right now, what you have is a situation where the republican party is reduced to its lowest andi in the history of "the wall street journal" poll. the only thing that is worse is john boehner. 18% favorable. this is...
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. it is absurd. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. >> house republicans continued to threaten to use the debt ceiling as a bargaining chip. house republican conference chairwoman kathy rogers told "political" i think it is possible we would shut down the government to make sure that president obama understands that we're serious. well, i guess that would do it. we always talk
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of...
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ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with that 2006 vote. there is one very big difference between now and 2006. 2006 there wasn't this kind of big protracted battle over the debt ceiling at all. it wasn't a big issue. i was covering politics for nbc at the time. the debt ceiling increase was seen as a procedure and a very partisan vote then but not something you were reporting on for weeks and months like we have in 2011 then and now on the debt ceiling debate and, of course, what happened in 2011 was a loss to the nation's credit rating. there's big differences between
ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with...
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ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they really want to stand their ground on this issue at the risk of economic down tivrnlt i think a lot has to do yes tea party you want to make a case is this the time to do it and right way to do it. that i think is boehner responsibility to explain that to his caucus members. my unitsing that's what he's planning to do over the next couple days. >>reporter: tea party express issued a statement saying it's completely irresponsible for the president of the united states to demagog this issue. the president will have big opportunity to speak to the nation on this if he chooses t t
ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they...
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Jan 20, 2013
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we have raised the debt ceiling 70-plus times. the congress has voted to do it. there was always a sense of we are not going to vote e to rai the other guys debt ceiling but there was always the understa that we would provide the votes in the final ananalysis. the president's party y did that. right now, what you have is a situation where the republican party is reduced to its lowest standing in the history of "the wall streeeet journal" nbc poll. the only thing that is worse is john boehner, 18% favorable. this is not a formidable parker. >> "politico" spoke to some unnamed republican leaders and they said that party leadaders have appeared to shut down the government to make a point. they may need to shut dowjust to get out of the system. we may need to do that for member-management purposes so that they can show their constituents they are fighting. get it out of the system kept? this is not a gastrointestinal system. thiss the government. >> i would offer therapy and not closing the government. the republicans have had a pretty unhappy experience with brinksm
we have raised the debt ceiling 70-plus times. the congress has voted to do it. there was always a sense of we are not going to vote e to rai the other guys debt ceiling but there was always the understa that we would provide the votes in the final ananalysis. the president's party y did that. right now, what you have is a situation where the republican party is reduced to its lowest standing in the history of "the wall streeeet journal" nbc poll. the only thing that is worse is john...
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they play to hold the debt ceiling hostage. aides say half the conference is ready to let the nation default. speaker boehner will school them on the real threat later this week. even a temporary extension for, say, two or three months could rattle the markets and threaten the nation's credit rating. last time they hashled out a debt deal? summer of 2011 and we ended up more than a trillion dollars in mandatory spending cuts and congress still hasn't addressed and delayed again until march. we start with nbc's peter alexander outside the white house. peter, the president also told congress if they don't want to take the political risk of raising the limit, give him the power. he'll do it himself. >> reporter: that's clear f. you aren't going to do it, i'll do it myself. in essence today, toure, he basically dared congress not to up the debt ceiling today. obviously, one of the comments he said that i think is pretty interesting is saying in his own language, they will not collect a ransom in exchange for not crashing the econom
they play to hold the debt ceiling hostage. aides say half the conference is ready to let the nation default. speaker boehner will school them on the real threat later this week. even a temporary extension for, say, two or three months could rattle the markets and threaten the nation's credit rating. last time they hashled out a debt deal? summer of 2011 and we ended up more than a trillion dollars in mandatory spending cuts and congress still hasn't addressed and delayed again until march. we...
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debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death certificate. >> narrator: for his part, the president decided to try something new: personal politics. he figured he could connect to the republican leader, john boehner. >> obama told his staff, john boehner is a country club republican, a golf-playing, cigarette smoking deal-maker. >> narrator: the president invited boehner to play golf with him at andrews air force base. >> and afterward, they go back to the clubhouse, and they're having a drink; there's a photo op. and it's at that point when boehner says to the president, "hey, you know, on this debt ceiling stuff, we ought to do something big.
debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death...
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that is far from a don't raise the debt ceiling ultimatum. boehner has now shown that he's willing to break glass and allow legislation to pass without a majority of the majority. perhaps we've seen the near future in how the republicans end up agreeing to a debt ceiling raise without a battle. government funding and government shutdown, different story. >>> let's turn back to the big story of the day. and that is the president's push on guns and the coming fight with both congress and the nra. in addition to calling on congress to pass gun control legislation, the president will propose a set of executive actions. nbc's justice correspondent pete williams is here to help explain some of those executive actions. a big one that we know he's going to call for is this idea, pete, of basically ordering the justice department to prosecute people that fail background checks. explain why that hasn't been done before, and how it can be done. >> sure, first of all. the federal law makes it a crime for somebody to falsify, knowingly falsify information
that is far from a don't raise the debt ceiling ultimatum. boehner has now shown that he's willing to break glass and allow legislation to pass without a majority of the majority. perhaps we've seen the near future in how the republicans end up agreeing to a debt ceiling raise without a battle. government funding and government shutdown, different story. >>> let's turn back to the big story of the day. and that is the president's push on guns and the coming fight with both congress and...
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he says, look, we need to take this debt ceiling, put it aside, rape the debt ceiling and then we can argue over spending. he says we have done about half the deficit reduction that we can do over the last couple of years. we have been debating debt and deficit over the last couple of years. the american people decided this in the election and they agree with me. logan ayres and billionaires are paying significantly more taxes thanks to that fiscal cliff feel that he just signed into law. a note on gun control expected to be delivered to the president tomorrow. he says he will have a proposal later this week. the executive order action and some changes that would have to make it through congress. this is mostly about gun control. back to you. dennis: thank you. cheryl: he also addressed the lack of women in his new cabinet appointment. that was interesting as well. stocks every 15 minutes. during the president news conference, big news crossing on jpmorgan. nicole: that is right. here you go. that is an intraday chart. in our day seems be finished. take it down. the stock is down abou
he says, look, we need to take this debt ceiling, put it aside, rape the debt ceiling and then we can argue over spending. he says we have done about half the deficit reduction that we can do over the last couple of years. we have been debating debt and deficit over the last couple of years. the american people decided this in the election and they agree with me. logan ayres and billionaires are paying significantly more taxes thanks to that fiscal cliff feel that he just signed into law. a...
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i will not negotiate over the debt ceiling. congress has to do its job. >> woodruff: when it comes to the republicans jake sherman, you've been talking to some of the folks on the hill. they were digging in their heels just as much as the president was. what was their reaction? >> i think they have... they see this situation as three big issues: the government funding issue. that runs dry at the end of march. the debt ceiling. and these automatic spending cuts that take hold at the beginning of march. they want to use these opportunities. they don't think it's so bad to shut down the government or to default on the debt. they are even skeptical of the administration's estimates of when that will happen. so they see themselves really having very little leverage besides doing something which a lot of americans would consider extreme which is defaulting on the debt or shutting down the government. now i think it's virtually impossible that speaker john boehner will raise the debt ceiling without commensurate spending cuts. he's wa
i will not negotiate over the debt ceiling. congress has to do its job. >> woodruff: when it comes to the republicans jake sherman, you've been talking to some of the folks on the hill. they were digging in their heels just as much as the president was. what was their reaction? >> i think they have... they see this situation as three big issues: the government funding issue. that runs dry at the end of march. the debt ceiling. and these automatic spending cuts that take hold at the...
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ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt ceiling. that's an automatic. we should move forward and talk about how we create jobs. by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've go
ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt...
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ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. >> lou dobbs is the host of lou dobbs tonight on the fox business network. lou, welcome back. what an extraordinary exchange we saw the president have on that issue. basically his position was, we're raising the debt ceiling whether congress wants to or not. i'm not negotiating with them on it. i'm not following what speaker boehner said is the boehner rule of for every dollar we increase the debt limit there will be a spending cut and i'm not going to let them put a gun at the heads of american people because in his terms, they refuse to pay the bills that they've agreed to pay and when asked about the
ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting....